Evaluation Of Investment Projects Research Articles

Cost-Benefit Methodology in Public Investment in the Peruvian Educational Sector of Invierte.Pe. a Practical Case

Objective: The purpose of the research is to show a specific process to perform the cost/benefit analysis in the social evaluation of public investment projects in the education sector, applying the net present value (NPV) and internal rate of return (IRR) profitability indicators, taking into account that the approach of the National System of Multiannual Programming and Investment Management (Invierte.pe) applies a different methodology as the cost/efficiency analysis, where it uses criteria such as the Present Value of Costs (PVC) and the Cost Efficiency Indicator (CEI). Theoretical framework: In order to present our proposal, we used as a theoretical framework, mainly the directives, instructions, procedures, and methodological guides proposed by the Ministry of Economy and Finance of Peru, which can be improved by considering the results of investment in education. Method: The research proposes a technique to evaluate investment projects in the education sector through the cost/benefit methodology instead of the cost/effectiveness methodology. Within the materials and methods, an education sector investment project approved by Invierte.pe was used, and we added cost/benefit analysis to estimate the profitability indicators NPV and IRR to carry out the social evaluation of the project. Results: The results show that the education project has a net present value of S/. 794,874.30 at social prices, and an internal rate of social return of 9.56%. Finishing the research, it can be concluded based on the results obtained that it is possible to incorporate the cost/benefit methodology in the formulation and evaluation of standard, simplified technical sheets and studies at the profile level of public investment projects in the education sector. Conclusions: It can be concluded that it is feasible the social evaluation of investment projects in the educational sector of the Peruvian state, through the cost/benefit methodology in the region and the country, by means of the profitability indicators NPV and IRR, obtaining a higher internal rate of return.

Mechanisms for managing investment activities in the agro-industrial complex

The relevance of the study of investment management mechanisms in the agro-industrial complex is explained by the fact that only those subjects of the agro-industrial complex that carry out active investment activities have prospects for successful functioning. However, the pace of their development is largely determined not only by the volume of investments, but also by the efficiency of their use. At the same time, the concept of «investment» reflects a complex and significant economic category. On the one hand, investments make it possible to carry out the process of agricultural production itself, and on the other, the results of the production process affect savings, that is, the possibilities of further investment. At the same time, the conducted study of the indicators of measurement and evaluation of investment projects allowed us to more fully reveal their content, objective relationships between them. At the same time, the prerequisite for calculating performance indicators was the justification of approaches that take into account objective economic laws

СТРАТЕГІЧНЕ УПРАВЛІННЯ ІНВЕСТИЦІЙНОЮ ДІЯЛЬНІСТЮ НА ПІДПРИЄМСТВАХ З ПЕРЕРОБКИ ТВЕРДИХ ПОБУТОВИХ ВІДХОДІВ

The article demonstrates that Ukraine faces significant challenges in the management of solid household waste. These issues include the absence of a clear waste disposal strategy and insufficient attention to environmental safety. Most landfills in Ukraine fail to meet safety standards and environmental norms, posing a threat to the surrounding environment. Effective resolution of these problems involves the implementation of advanced solid household waste processing technologies and the improvement of waste management systems to ensure sustainable resource utilization and reduce negative environmental impact. The prospects for the development of enterprises involved in solid household waste processing are discussed, including societal awareness of environmental pollution issues and the need for protection, legislative initiatives aimed at reducing waste volumes, and technological progress enabling the creation of new products from recycled waste while minimizing environmental impact. It is argued that the development of this sector can stimulate investments and contribute to the creation of new jobs in the environmental economy. It is argued that effective strategic management of investment activities in enterprises dealing with solid household waste processing is a crucial factor in their successful development and achieving competitive advantage in the market. It is demonstrated that based on the analysis of the enterprise’s needs and opportunities, an investment strategy should be developed to align with strategic goals and enhance its competitiveness. This strategy involves optimal resource utilization to ensure sustainable development and maximize financial results. The main stages of developing and implementing the investment management strategy in enterprises dealing with solid household waste processing include market and needs analysis, selection of investment directions, evaluation of investment projects, development of an investment plan, implementation of investment projects, monitoring and control, evaluation of results, and strategy adjustment. It is proposed that for maximum effectiveness, these stages of the strategy should be implemented comprehensively.

The Feasibility Study Report as an Effective Tool to Evaluate Investment Projects: A Solid Waste Treatment Project as a Case Study

Hundreds of infrastructure investment projects are inserted into the Iraqi government budget annually. Many of these projects suffer from suspension, delay in completion, corruption, or other negative issues known in Iraqi construction projects. This may harm the country's economic recovery due to allocating funds to useless projects from one or more feasibility studies' components. Therefore, the best solution is to pay attention to the feasibility study reports. This study highlights the importance of feasibility studies reports for investment projects and their effective role in evaluating project ideas to ensure an equitable distribution of a country's financial resources to the most feasible investment projects. This importance was highlighted through a practical case study for a solid waste treatment project. The results of the case study showed that feasibility studies provide very important information on which investors and governments can rely to make the appropriate decisions for investment projects. The study also addressed the risks that investors can be exposed to in Iraq and how to include them in the economic analysis of feasibility studies.

Research on investment project evaluation: Comparative analysis based on NPV and IRR

Whether a project is viable, determining whether a project is viable requires some metrics. The indicators that are most frequently utilized are the Net Present Value (NPV) and the internal rate of return (IRR). They are very representative and scientific. The same decision can be made by applying both in independent and non-independent projects When there are many contradictions between NPV and IRR, it is necessary to introduce new indicators to continue to judge the project, such as △IRR, incremental IRR method, modified IRR (MIRR) method, selective IRR method, payback period method, Equivalent Annual Annuity (EAA) method and static analysis method. The investment is selected by comparing the internal rate of return △IRR with the benchmark rate of return (ic) or the social discount rate. The MIRR approach determines the IRR of each scheme, compares it to ic, chooses the scheme that have IRR is larger than or the same as ic, and then determines the incremental IRR of the two neighboring schemes to make the choice. In addition to the investment payback period approach and the selective internal rate of return method. EAA method is in the comparison of investment projects, investors should choose the project with higher EAA when comparing. In the process of investment projects, different enterprises can adopt static analysis method to carry out project investment, but there are two forms of static analysis method, such as payback period method and basic income method. Using reasonable indicators and methods to evaluate the investment project, so as to select the best project.

ALGORITHM OF FUZZY PRIORITIES FOR ALTERNATIVE SOLUTIONS

It is rather problematic to approximate the real decision management process with a mathematical model. Most decisions in the economy are complex in structure, multi-criteria tasks containing a set of descriptive, probabilistic, undefined characteristics. Such problems are solved by methods of system analysis. One of these methods is the method of analyzing hierarchies, which is used for models of personnel management, resource allocation, and evaluation of investment projects. The possibility of practical application of the method of analysis of hierarchies is limited by the requirement of complete certainty of alternative evaluations. Practical situations are characterized by uncertainty and limited information about the object or the decision-making process. Combining a systems approach with elements of fuzzy logic can correct this situation for the better. System models developed on the basis of the theory of fuzzy sets use the method of paired comparisons to rank management objects by factors and determine the importance of factors within the model. The article examines the algorithm for the synthesis of the vector of weighting coefficients of alternative decisions based on the matrix of pairwise comparisons with fuzzy estimates of alternatives. The possibility of combining elements of the theory of fuzzy sets and the method of analysis of hierarchies for the problem of decision-making is considered.

Scientific and methodological aspects of the choice of discount rate in the evaluation of investment projects

The article makes a scientific research of existing methodological approaches that have been formed in management. The article also analyses the causes of the collapse of investment projects, in particular in the construction industry, which threaten the stability of the functioning of national economies. All these researches give an opportunity to find the real causes of ineffective implementation of projects. The author offers a methodological approach to the formation of a holistic organizational structure of the socio–economic system, which has the goal to solve the problem of crisis phenomens in management. The author`s approach gives an opportunity to form organizational structure in an organic combination with the economic processes that take place in it and provide the qualitative formation of the organizational structure, which makes it possible to make control over each of its economic elements and ensure an absolutely effective management.
 Based on a systemic approach, the author considers the organizational structure as a dynamic system that consists from economic elements which necessary for the effective implementation of the purpose of the created structure. This approach to considering the organizational structure is different from the traditional one, in which the structure of the organization is a static system, the elements of which are only labor resources with defined functions.
 Consideration of the organizational structure as an integral system that consists from selected homogeneous economic elements which structure on the basis of normative model in which the management and managed subsystems are allocated, and also there are the main, auxiliary and service production in the managed subsystem gives an opportunity to form a normative model of the organizational structure which provides qualitative structuring of all its elements.

Scientific and methodological aspects of the choice of discount rate in the evaluation of investment projects

The article is devoted to the issues of evaluating the efficiency of investment projects, taking into account the justified and objective choice of the discount rate, which significantly affects the accuracy of the indicators of the economic efficiency of the evaluated investment project. In the conditions of an acute shortage of investment resources, the desire to increase the accuracy of the predictive assessment of the effectiveness of investment projects necessitates the search for new scientific and methodological approaches to the justified choice of the discount rate. In each specific situation, this choice depends on a large number of different factors, which are conditionally divided into two groups - internal and external. Unfortunately, in investment projects developed by Ukrainian enterprises, insufficient attention is paid to justifying the discount rate. The article provides an analysis of the main methods of determining the value of the discount rate when evaluating investment projects and scientific and methodological approaches to the selection of the discount rate in order to increase the objectivity of the predictive assessment of the feasibility of implementing an investment project. The essence of the advantages and disadvantages of such "traditional" methods of determining the discount rate of investment projects, such as the SARM model, the cumulative construction model, and the WASS model, are revealed. The effect of the intensity of exogenous factors in the form of the cost of credit resources, tax rates, inflation rates on the result of the assessment of the efficiency of the investment project has been specified. The main problems of justifying the economic efficiency of investment projects in the post-war recovery of the national economy are formulated. The author's rationale for the cumulative premium to the discount rate is given, due to the risk of speculative growth in the cost of construction caused by excess demand for construction work. The indicator of the expected duration of the portfolio of all orders of the construction enterprise, expressed in months, is proposed for use. On the basis of a cluster analysis of retrospective data, the linguistic terms of this meaning "deficit of orders", "partial..." and "sufficient security of the medium-term portfolio of orders" and their corresponding Gaussian membership functions are substantiated. An artificial intelligence system has been developed for forecasting the most likely percentage of speculative overestimation of the cost of construction works performed by the contractor, and the feasibility of using the output of this system as a cumulative premium to the discount rate has been proven.

Research on the optimal model for the evaluation of new power system investment projects based on the cloud model–DS evidence theory–TOPSIS method

AbstractConsidering that the traditional investment project evaluation system can no longer fully adapt to the characteristics of the new power system under the investment environment of the new power system, this study constructed a new power system investment project evaluation and optimization method based on the combination of the cloud model, evidence theory and the TOPSIS method. First, 16 evaluation indexes were considered based on four dimensions, namely green and low‐carbon, safe and reliable, flexible and intelligent, and economical and efficient, and the optimal evaluation index system of new power system investment projects was designed. Second, the normal cloud model was used to obtain the evaluation membership distribution of each index and turn it into evidence. Considering the conflicts between indicators and the combinational contradictions of traditional evidence theories, an improved DS evidence theory based on a game weight coefficient discount to reduce conflicting evidence was used to fuse the membership information of multiple indicators. On the basis of the evaluation results of each scheme, this study used the TOPSIS method to sort the advantages and disadvantages of each scheme. Finally, the project of planning and putting this model into operation in the 14th Five‐Year project database of a power grid enterprise was selected as an example to carry out empirical analysis, and the effectiveness and superiority of the proposed model were verified.

Učinci investicijskih projekata na samofinanciranje mjesnih Crkava u Africi

Dioceses need financial, material and human resources to organize worship, provide an honest livelihood for mission workersand fulfil their duty of charity and solidarity. This can’t be achieved with our hands always outstretched to the outside world. With a view to self-financing, several dioceses in Burkina Faso have launched investment projects. This article looks at the impact of investment projects on diocesan self-financing. To this end, we conducted surveys of 60 investment projects. Analysis of the results shows a positive effect. However, a number of shortcomings were noted, making this effect rather weak. To make it more significant, it is important for dioceses to invest in strategic areas, to improve the quality of their investments, to go further in their budgeting practices and to practice forward-looking management of the personnel assigned to investment project management. They also need to set up appropriate instruments such as a Strategic Investment Fund, a Catholic Investment Network and a Diocesan Office for Analysis, Monitoring and Evaluation of Investment Projects.

Methodological design of a strategy for the productive and sustainable development of communities in Cauca

Introduction:The productive and sustainable development in the department of Cauca depends to a large extent on the effective use of information and communication technologies (ICT). However, the institutional framework lacks mechanisms or methods to select investment projects with ICT resources. This situation has become an obstacle to economic growth and the improvement of social conditions in the region. Methods:In this article, the construction of a methodological design, one that allows for the selection and evaluation of projects with ICT resources that contribute to the solidarity economy of Cauca communities, is consolidated. The investigative process used a mixed approach, carrying out a systematic review of academic and political-organizational information, after which proposals and selection criteria used in Cauca in the last 5 years were analyzed.Results:With the information collected and analyzed, a route for the selection and evaluation of projects was compiled. Likewise, user stories were used to create a simulator that materializes the process of selecting and evaluating projects in a more efficient and effective way.Conclusions:In conclusion, the creation of the methodological design, materialized in the simulator, represents a valuable tool for the department of Cauca, since it allows for a rigorous and coherent evaluation of investment projects with ICT resources Originality:Promoting productive growth, the solidarity economy also contributes to sustainable development for the communities of Cauca.Limitations:The sample was limiteddue to the geographical location of the municipalities.

Research on the Methods of Investment Project Evaluation: Comparison of NPV, IRR and MIRR

Which one of Net Present Value and Internal Rate of Return is better to use in different fields is the focus of current research. This paper analyzes the limitations and uniqueness of the use of NPV and IRR based on current research. The research topic of this paper is the relationship and difference between NPV and IRR. The research method of this paper is as follows: firstly, through the description of NPV and IRR respectively, then collect the data and examples used by NPV and IRR, secondly analyze the data and examples, and finally, this study found that in different situations, the use of IRR and NPV also has different advantages and disadvantages, and there is still a gap in the comparative analysis of the use of NPV and IRR in different situations. Therefore, this paper will supplement the gaps in the comparison of NPV, IRR and MIRR with an analysis.

Оценки потребности в оборотном капитале при инвестициях в развитие здравоохранения

The spread of medical technologies underpins the transition to the next global economic mode and requires large-scale investments in health sector. To substantiate them, certain methods of making investment decisions which corresponds to a new stage of scientific and technological development are required. This paper proposes the methods of investment projects evaluation based on the cost and benefit analysis, that measures both costs and benefits in monetary terms, taking into account these approaches. On the one hand, economic (public) efficiency is determined with the social effects along with other public effects being highlighted. On the other hand, financial (commercial) efficiency is calculated with a detailed presentation of investment in working capital and terminal value. In applied project analysis, working capital is either not taken into account, or simplified methods are preferred. The paper focuses on the issues of modeling investments in the growth of net working capital. A comparative analysis of working capital modeling methods in the financial models of various international organizations (UNIDO, World Bank, Asian Development Bank) and official Russian methods is carried out. Also, the author's modified method for calculating investments in working capital based on separate financial turnover and liquidity ratios is proposed, which allows taking into account industry specifics of health projects. The system of the proposed methods was tested on the example of a real project of the construction of seven urban outpatient hospitals in Novosibirsk. The results of the financial analysis with three options of working capital accounting and the economic analysis with the presentation of social, tax and redistributive effects of working capital clearly show the impact of assessing working capital requirement on the results of not only financial, but also economic efficiency, including the efficiency of participation in the project. In the frame of the economic analysis, substantial social effects for patients of new outpatient hospitals and other residents of the Novosibirsk Region were highlighted, while in the frame of financial analysis, significant effects of working capital and terminal cost for direct project participants were identified.

Совершенствование организации процесса экономической оценки нефтегазового проекта за счет цифровизации

The article analyzes the process of organizing work on the evaluation of investment projects in an oil and gas company, highlights the stages of work on the justification of a rational option for field development, and gives a description of the software used. As a result of the analysis, the weak side of the digital contour of the stage of economic evaluation of the project on the basis of four criteria of the state standard of the Russian Federation is revealed. These are accuracy, productivity, safety and ease of use. Five alternative variants of IT innovations, including Russian and foreign ones, are considered. The oil and gas company’s own development “Atlas: In-vestment Evaluation” was recognized as the best, based on a weighted average assessment of seven criteria: compliance with global, industry-wide and sectoral requirements, software availability during the sanctions pe-riod, the ability to take into account industry specifics in calculations, and the minimum duration of implementa-tion of the new program and employee training. According to the IT innovation of the oil and gas company, aimed at improving the process of digitalization of the economic justification of projects, the effects of increas-ing the reliability and flexibility of work were revealed. Based on the Gantt chart, the reduction of labor intensity by evaluation stages is determined. The commercial efficiency of the process of improving the organization of work is substantiated.

Preliminary evaluation methodology for payback infrastructure projects in private-public partnership

The authors of the article present the results of scientific and practical research on the development of methods of primary assessment of the efficiency of payback infrastructure projects public-private partnerships achieved through the monitoring and analysis of the state company’s investment activities and project portfolio management. The purpose of this study is to develop methodology for preliminary evaluation of payback infrastructure projects, that is able to be used to evaluate efficiency of capital investment at the stage of initial project appraisal and planning and to range perspective projects in accordance with their efficiency. The subject of the article: efficiency of payback investment projects in the infrastructure industry. The relevance of the study is determined by absence of a generally accepted methodology for initial evaluation of investment projects, that allows for into consideration the legal and economic specifics of federal projects approval and implementation in the regions of Russia. The methodology formed on the basis of an interdisciplinary approach implemented in the course of approval and evaluation practice of investment projects appraisal within the framework of the activities of a state-owned company. The instrumentation reviewed in this paper is based on data from financial modeling of infrastructure projects, with preliminary geographical modeling of traffic flow intensity. It includes the following modified indicators based on discounted cash flows: consolidated coverage ratio, ratio of operating income to capital investment, share of extrabudgetary funding in the life cycle of a project, internal rate of return. These indicators are unified into a single integral indicator, which allows to rank and manage future projects in a company’s portfolio. The applicability of the proposed methodology has been verified by the results of implementation of the public-private partnership projects. Based on the results of the study a financial model for initial assessment of project efficiency has been prepared, which can be used as the initial stage of project justification.

Methodological approaches to assessing the impact of environmental factors on the efficiency of investments

Methods. The theoretical and methodological basis of scientific research was the work of scientists on the issues of evaluating the effectiveness of investments and improving the criteria for evaluating investment projects in accordance with today's challenges. In order to achieve the goal, the article uses general scientific and specific methods: methods of theoretical generalization – to study the process of improving the methods of assessing the economic efficiency of investments in accordance with changes in the environment and the development of scientific and technical progress; statistical methods – when determining the structure of capital investments; generalization and synthesis – to substantiate the scientific approach in improving the criteria for evaluating the economic efficiency of investments. Results. The article highlights issues related to the improvement of criteria for assessing the economic efficiency of investment projects in accordance with the requirements of modern economic conditions and the life of humanity as a whole, recommendations are provided in the field of taking into account the influence of environmental factors when determining the economic efficiency of investment projects. Novelty. The analysis of the structure of capital investments was carried out, the importance of the company's own funds for the implementation of investments was determined, while at the same time solving the question for the owner of the company about what would ensure obtaining a higher income: reinvestment of profit or rational use of dividends in private interests. The need to take into account the influence of environmental factors when determining the economic efficiency of investment projects is substantiated, for which it is necessary to define a toolkit for measuring environmental impact. When determining the economic efficiency of projects, it is proposed to take into account the environmental impact coefficient (EIC), which characterizes the ratio of economic damage to the environment after (DEa) and before the implementation of projects (DEb). Practical value. The results of the conducted research can be useful for business entities and investors who will participate in the post-war reconstruction of Ukraine.

Considering Waste Generation in the Energy Sector during the Transition to a Circular Economy

The need to reduce the negative environmental impact of energetics with the growing energy demand in the world is the core objective of the industry for the upcoming decades. The global agenda in the field of environmental protection increases the requirements for evaluation of the energy investment projects, in particular for their environmental efficiency. Currently, much attention is paid to assessing the impact of the project on atmospheric air, water bodies and land resources, including the formation of industrial waste during the operational stage. The formation of production and consumption waste at other stages of the project life cycle is not considered either when generating cash flows or when conducting the assessment pf environmental efficiency. It might significantly reduce the reliability of assessment results. The purpose of this study is to develop a system of integrated accounting for all types of waste generated and the environmental costs incurred for handling them during the environmental and economic assessment of energy projects. The paper discusses modern waste management practices at energy enterprises, waste generation at various stages of investment projects implementation, and provides recommendations on waste accounting when assessing their environmental and economic efficiency.

Socio-economic approach to transport investments evaluation

Background: Transport plays a crucial role in socio-economic and social processes. Despite the fact that transport can be considered as an independent industry, and transport development projects can be considered as independent business projects, the spectrum of transport influence has not yet been fully studied. A qualitative examination of the spheres of influence of transport shows its impact on all significant aspects of socio-economic relations in society.
 Nevertheless, classical methods of financial management are used to assess the effectiveness of investments in transport, which do not allow to fully reflect the effects arising from the implementation of such investments.
 As practice shows, the use of classical approaches does not allow us to reliably assess the effectiveness of investments in transport. The choice of approaches to assessment is directly dependent on the socio-economic model of the state. The capitalist model focuses on the income received from the implementation of any investment project, whereas the socially oriented model peculiar to Russia is initially focused on the formation of the public good.
 The latter approach, in our opinion, is strategically more advantageous on a national scale and requires wide dissemination for the purposes of financial and economic analysis
 Aim: to consider the list of methods for evaluating investments in transport and determine a set of factors that require consideration for a socially oriented economy.
 Materials and methods: the research methodology is based on the analysis of methods of financial and economic evaluation of investment projects, socio-economic analysis, as well as macroeconomic methods. The information base of the study is based on official legal and methodological information of the authorities of the Russian Federation.
 Results: as a result of the study, a list of factors that need to be taken into account when assessing the effectiveness of investments in transport within the framework of the paradigm of socially oriented public administration is determined.
 Conclusion: the study confirms that the methods currently used to assess the effectiveness of investments in transport do not fully reflect the effects arising from their implementation. The proposed approach to determining the list of socio-economic effects resulting from the impact of transport projects will improve the quality of management decisions in the transport sector.

Management of the development of a metallurgical company on the basis of the algorithm of the pre-investment analysis

The article is devoted to the development of methodological approaches to assessing the effectiveness of investments in innovations and repairs of Russian metallurgical companies based on an analysis of the state of innovation and technological potential in order to maintain competitiveness in the face of tougher sanctions. The analysis of sources and directions of investments and comparison of the current internal rate of return in the leading companies in the metallurgical sector were carried out: Severstal, MMK, NLMK, EVRAZ; their investment activity was studied and the predominant selfinvestment in the development of companies and interest in financial parameters and global trends were confirmed to the detriment of the material component of production. The problem of disunity of owners, managers of the main production, repair facilities and top management in making investment decisions is detailed and methods for its solution are proposed through the use of a company's preinvestment analysis algorithm based on the methodology of predictive analysis of large data arrays. The methodological basis is the theory of strategic management and investment analysis. Methods: classification, comparison, grouping, economic and mathematical modeling, predictive analysis and algorithms. The methodology for evaluating investment projects using the modified internal rate of return (MIRR) has been refined. An algorithm for analyzing the investment environment of metallurgical companies is proposed based on taking into account the service life of equipment and ranking it depending on the need for repair or renewal. The updated analytical tools will be of interest to industry enterprises, corporations and government agencies in substantiating the strategy of innovative development. The developed approaches are of scientific interest in the study of contradictions between production, top management, owners of metallurgical companies and the state.

Classes of task problems for determining the effectiveness of investment projects, taking into account the uncertainty of the external environment and multi-criteria

The article is devoted to the classification of decision-making tasks when choosing investment projects in conditions when uncontrollable factors act in these tasks that affect the efficiency of the compared projects, and the projects themselves must be evaluated by a set of criteria. In modern scientific literature, the issues of assessing the effectiveness of investments are often considered in isolation from issues related to the methodology for making optimal decisions in the economy. This can lead to an incorrect choice of investment projects when they are selected for financing, especially when it comes to innovative or socially significant projects. The article attempts to analyze the problems of multi-criteria and uncertainty of decisions in relation to the evaluation of investment projects. In particular, the question of classification is raised. All tasks for assessing the comparative effectiveness of projects are divided into five classes. The classification is based on three features: the number of project efficiency criteria taken into account, the number of optimality principles used under uncertainty, and the number of multi-criteria optimization principles used. As criteria for the effectiveness of investment projects are considered: net present value, yield index, payback period, internal rate of return. As the principles of optimality under uncertainty, the following principles are considered: optimism, pessimism, guaranteed result, Savage and guaranteed losses. The principles of taking into account the problem of multi-criteria are: the principle of dominance, the Pareto principle, the principle of the formation of complex indicators, the principle of highlighting the main indicator with the transfer of the rest to the category of restrictions. The tasks of each class are illustrated with examples, quantitative calculations for these examples are carried out.